Titles

Question 1

1) Deeds

Answer 1

(a) Transfer of legal title in day of closing

Question 2

2) Present Warranties

Answer 2

Seisin
(a) Right to convey
(b) Covenant against Encumbrances

Question 3

seisin

Answer 3

“I own the property”

Question 4

3) Future Warranties

Answer 4

(last forever)

(a) Quiet enjoyment
(b) Warranty
(c) Further Assurances

Question 5

(a) Quiet enjoyment

Answer 5

(i) Grantee will not be bothered by claims

Question 6

(b) Warranty

Answer 6

(i) Defend against future claims

Question 7

(c) Further Assurances

Answer 7

(i) Will do whatever to fix defect

Question 8

4) General Warranty Deed

Answer 8

(a) Promises all above warranties, since the property was developed/created

Question 9

5) Special Warranty Deed

Answer 9

(a) Promises all 6 warranties since the SELLER has title

Question 10

6) Quitclaim Deed

Answer 10

Yahoo Title
(a) NO promises regarding title

Question 11

B) Formalities of Closing

Answer 11

1) Writing
2) Delivery of Deed
Acceptance
Merger
3) Description of the Property

Question 12

Deed Merger

Answer 12

(a) At closing the K and the deed MERGE

Question 13

5) Description of the Property

Answer 13

(a) Must be “reasonably definitive”

Question 14

C) Transfer of Property by Will or Law

Answer 14

1) Liens
(a) Estate pays off liens

Question 15

D) Adverse Possession

Answer 15

Ane Cho

(a) Continuous
(b) Actual
(c) Open and Notorious
(d) Hostile
(e) Exclusive

Question 16

1) Drafting Documents

Answer 16

(a) Non-attorney ok
(b) But not to give legal advice

Question 17

2) Equal Dignity Rules

Answer 17

(a) Agent may sign deed on behalf of the GRANTOR
(b) Need permission in Writing

Question 18

F) RECORDING STATUTES

Answer 18

1) Notice Statute
2) Race Statute
3) Race Notice Statute

Question 19

1) Notice Statute

Answer 19

(a) Key Words: “subsequent purchaser for value without notice”
(b) Last Bona Fide Purchaser Prevails

Question 20

2) Bona Fide Purchaser (Innocent buyer)

Answer 20

(a) Pay for Property, not have gotten it by deed or inherited it
(b) Take Property without notice, actual or constructive of any prior conveyance

Question 21

3) Race Statute

Answer 21

(a) First Person to record wins

Question 22

4) Race Notice Statute

Answer 22

(a) First Bona Fide Purchaser to record
(b) Key words “First recorded”

Question 23

5) Shelter Rule

Answer 23

(a) One who takes from BFP will prevail against anyone the transferor-BFP would have prevailed against

Question 24

6) Wild Deed

Answer 24

(a) A recorded deed outside the chain of title